Archive – Banking & Fintech

Swiss Railways shunts along despite setbacks

This content was published on May 4, 2003 swissinfo spoke to director Benedikt Weibel to find out how the company is coping amid the economic downturn. swissinfo: You are having to set aside provisions to cover the Federal Railways pensions commitments, and this will continue for years to come. How does this affect your company? Benedikt Weibel: I think we will continue to…

Swiss go recycling mad

This content was published on May 3, 2003 The high recycling rate can be partly explained by the fact that the Swiss are an ecologically-minded nation, as well as the large number of high-tech recycling plants. Switzerland far outstrips its neighbours in plastic bottle recycling – the European average is between 20 and 40 per cent – making the country the world leader…

Swiss spins off regional operations to cut costs

This content was published on May 2, 2003 The company’s new business strategy comes as Swiss fights for survival in an increasingly tough aviation market. The new entity, to be known as Swiss Express, will offer low-cost air connections, especially within Europe, Swiss said on Friday. The subsidiary is expected to commence operations with the start of the 2003/2004 winter timetable. Swiss said…

Swiss spins off regional operations

This content was published on May 2, 2003 The new entity, to be known as Swiss Express, will offer low-cost air connections, especially within Europe, Swiss said on Friday. The subsidiary is expected to commence operations with the start of the 2003/2004 winter timetable. Swiss said its move was “in response to new market conditions”. “Swiss Express will offer a competitively-priced product that…

Swiss spins off regional operations

This content was published on May 2, 2003 The new entity, to be known as Swiss Express, will offer low-cost air connections, especially within Europe, Swiss said in a statement on Friday. The subsidiary is expected to commence operations with the start of the 2003/2004 winter timetable. Swiss said its move was “in response to new market conditions”. The airline said it would…

Government rules out more cash for Swiss

This content was published on Apr 30, 2003 Transport Minister Moritz Leuenberger said on Wednesday that it was not up to the state to bail out private companies. The government – which is Swiss’s largest shareholder – said further public money or debt guarantees were out of the question. When Swiss was launched from the ashes of the former national carrier, Swissair, in…

Arms firm defuses criticism amid sinking profits

This content was published on Apr 29, 2003 Ruag’s products have been under increasing public scrutiny of late as a result of the United States-led invasion of Iraq. The state-owned group, which specialises in weapons manufacturing, said net income had fallen by 60 per cent to SFr44 million ($32.36 million). The company blamed the Swiss franc/dollar exchange rate and financing costs of an…

Swiss banks reach deal with US regulators

This content was published on Apr 29, 2003 While admitting no wrongdoing, the ten companies agreed to pay a total of $1.4 billion (SFr1.9 billion) and change their business practices. Credit Suisse First Boston (CSFB) was fined $200 million, while UBS Warburg (UBSW) will pay $80 million. The US Securities and Exchange Commission (SEC) said CSFB had also settled charges of securities fraud…

Factory shows net gains

This content was published on Apr 29, 2003 For 20 years the family’s textile mill in the industrial quarter of Dar es Salaam had been mothballed – put out of business by the second-hand clothing market. In 1997, learning of the need for bed nets in the fight against malaria, Haji rushed over to the factory to see whether the machines, which used…

Farm produce harvests little profit

This content was published on Apr 28, 2003 A research project by Agrarplattform – a group representing Swiss farmers, processors and retailers – found that profit margins were practically non-existent. Experts say that without farm subsidies and tariffs, the agriculture sector would be unable to survive. Switzerland’s leading food retailer, Migros – which set up the group – called the findings “shocking and…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss Railways shunts along despite setbacks

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Swiss go recycling mad

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Swiss spins off regional operations to cut costs

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Swiss spins off regional operations

More

Swiss spins off regional operations

More

Government rules out more cash for Swiss

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Arms firm defuses criticism amid sinking profits

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Swiss banks reach deal with US regulators

More

Factory shows net gains

More

Farm produce harvests little profit

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